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Filinvest Land, Inc.
#21
Just wanna share since we are discussing Property Sector as a whole..
article by Citisec (Bullish on Property stocks as a whole, na special mention lang si ALI so medyo OT konti.. Wink )


Property Sector Review
Residential and office segments remain strong
27 July 2011


We met with David Leechiu, Country Head of Jones Lang LaSalle Leechiu, earlier this week to get his insights
about the property market. The overall tone of JLLL remains positive on the back of good fundamentals
of the economy that supports the growth of the sector. We reiterate our BUY rating on the property sector


Office space demand higher than expected.

According to Jones Lang LaSalle Leechiu (JLLL), demand for BPO offices remains strong despite
softness in the economy of the US and the debt crisis in Europe. In fact, the real estate service firm said
that year-to-date demand for offices has already reached 250,000 sqm and they see it reaching 360,000
sqm by year end, higher than the historical average of 300,000 sqm per year. They also added that the
360,000 sqm annual demand can be sustained until 2013 so they expect the supply and demand to be
at equilibrium at least for the next 2 years. With strong demand and ample supply based on the current
pipeline of projects, rental rates are expected to continue rising 5-10% annually after a strong rebound
from 2009 lows.

Not worried about residential oversupply.

JLLL shares our view that fundamentals of the residential property market are still good despite the
numerous condominium projects being constructed in Metro Manila. According to the data compiled
by JLLL, there are approximately 120,000 condominium units scheduled for completion from 2H11 to
2015, or an average of 27,000 units per year. This is still small compared to the 80,000 annual housing
demand in NCR according to the Housing and Urban Development Coordinating Council or HUDCC.
In addition to the huge demand brought about by the housing backlog and household creation, the
low interest rate regime and accessibility of loan facilities, which weren’t available in previous growth
cycles, has opened the market to a whole new set of buyers.

Reiterate BUY on property stocks.
We reiterate our BUY rating on property stocks. JLLL has reinforced our positive outlook on the
property sector. We continue to believe that the low interest rate environment, affordable payment
terms, strong OFW remittances, and growing BPO sector will continue to support healthy residential
and office property segments. We have a BUY rating on all property stocks under our coverage, with ALI
as our top pick. We forecast Ayala Land to have the higher EPS growth this year on strong booking of
residential revenues and higher occupancy of offices. We also like ALI for its commitment to expanding
margin and increasing ROE. We believe ALI is on track to achieve its 2014-goal of earning Php10 Bil in
net income and increasing ROE to 15%

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#22
Ito pa re: REIT (under different article)

REIT tax rules okayed.
The tax rules for the implementation of REITs have been signed by Finance Secretary Cesar Purisima. This paves the way for the listing of REITs of interested developers.

Stringent rules make listing unattractive.
As expected, the tax rules include an initial tax on the transfer of property from the developer to the REIT company. It also included the requirement of a 40% initial public foat, to be raised to 67% within three years from listing. These two issues have been contested by interested developers like ALI, RLC, and SMPH and could be major hurdles for
the listing of their respective REITs.

Not expecting REIT listing anytime soon.
While the signing of the tax rules is positive for the
property sector as this fnally opens the doors for the listing of REITs, we do not expect any of the leading mall and ofce operators to spin to list REITs given the provisions on the application of taxes on transfer of property and public foat requirements

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#23
[Image: FLI072711.jpg]

FLI breaking out?

Price and RSI both forming an ascending triangle. Price already broke out of triangle, RSI the laggard this time? Price upswing supported by huge volume. MACD shows a blip. All other oscillators showing a positive sign.
buy high, sell higher!

stock market abbreviations (for newbies)
http://www.stockmarketpilipinas.com/post...g#pid11738

"when it comes to trading, i'm just barely smart enough to realize that i'm a total idiot. i might be considered stupid, but on the intelligence scale, it puts me comfortably ahead of all the dumber people who thinks they're better than me."


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#24
bought FLI. Smile
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#25
...why? ...care to give me your reason? Smile
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#26
uhmmm.. chart and volume looks good to me. Although I'm a newbie so not that reliable. Big Grin
If the price drops I'd still be comfortable to wait it out.
the company seems stable enough, I'm trying to stay clear of basura stocks so as not to get burned again. COL chokes when orders for basura stocks start pouring. Big Grin
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#27
FLI is breaking out today from an inverted head & shoulder. It should sustain the level of 1.30 or higher to be believable together with heavy volume.
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#28
Ibreak na sana 1.30, hindi nasustain kanina, but volume is good. Hopefully, positive tom
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#29
Intraday chart looks good. price didn't go below 1.28 after 10:30. volume very good. Let's go FLI! Sir Yamada, taas ng TP pag I H&S. natetempt tuloy ako mag keep ng half after ma reach TP ko watch kung may play pa afterwards. hehe.
buy high, sell higher!

stock market abbreviations (for newbies)
http://www.stockmarketpilipinas.com/post...g#pid11738

"when it comes to trading, i'm just barely smart enough to realize that i'm a total idiot. i might be considered stupid, but on the intelligence scale, it puts me comfortably ahead of all the dumber people who thinks they're better than me."


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#30
Sir YJ, ano po TP ng inverted H&S?
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